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Sep 29, 2012 7:00pm EDT
rates were too high in 1980, and we can have another debate as to why -- energy prices and so on. there's no way of glossing around that. but when these huge deficits went in place in 1981, what's called the real interest rates -- the spread between inflation and what a loan costs you doubled -- and that's still the case today. and the result is interest costs that have never been seen before in terms of real charges, and it's attributable to the deficit. everybody -- every economist, every businessman -- believes that. your own council of economic advisers -- mr. feldstein in his report told you that. every chairman of the finance and ways and means committee, republican leaders in the senate and the house are telling you that. that deficit is ruining the long-term hopes for this economy. it's causing high interest rates. it's ruining us in trade. it's given us the highest small business failure in 50 years. the economy is starting downhill with housing failure --- >> thank you, mr. mondale. you're both very obedient. i have to give you credit for that. we now start our final ro
Search Results 0 to 0 of about 1